Tuesday, December 27, 2016

Whole owner of BVI-based company entered into Loan Agreement

MIE Holdings Corporation, which is the whole owner of BVI-incorporated company MIE Maple Investments limited, announced that on 16 December 2016 it entered into the loan agreement with G-O Scale Capital Management Co, LLC, a limited liability company incorporated in the United States of America and the management company for GO Scale Capital.

Under the terms of the agreement, MIE Holdings Corporation agreed to grant a loan of US$30mln to the borrowing company, for a term of 6 months, with annual interest of 9 per cent. The loan is a discloseable transaction for MIE Holdings Corporation, and is subject to reporting.

It is a short term investment for the group with good risk return profile, and gives the opportunity for the group to gain exposure to the high growth renewable energy sector. The terms of the loan agreement are negotiated between MIE Holdings and G-O Scale Capital Management Co, LLC on an arm's length basis.